Want to build a server like hardware

I'm trying to build a server like hardware (this is my first time).
Initially i was researching on buying a server CPU (Intel Xeon or AMD opertron)
and server mobo.....Then I realised this is going cost a lot more than 1000$....I don't want to spend this much specially since I was planning to use this as a training, so I don't require 24/7 running reliable server...I just want a hardware with lot's RAM to support VM's where I can install training s/w like Informatica, Microstratergy, etc...Also I want this to support multiple VM's with Web, App and database server (Traffic will be very less- maybe 2 to 4 users).Also maybe couple more VM's like mail server, backup server....Again to stress this is all for learning and not production env.....
So I was thinking of building desktop hardware with more than 16 Gb RAM which gives me enough to create more than three VM's with enough memory...
I would like some suggestion regarding which processor and mobo to buy...

I had drilled down to following options....
1)
MB 4AMD Asus ATI 890 Chipset M4A89GTD Pro
HDD WD SATA 2TB 64 MB Cache
CPU AMD Phenom II 3.3 Ghz. 1100T X6 Black Edition
Memory DDR III Corsair 4*4gb 1333 mhz.(16GB)

2)
CPU Intel Core i7 2600k
MB Intel H67 Chipset DH67VR
HDD WD SATA 2TB 64 MB Cache
Memory DDR III Corsair 2*8gb 1333 mhz. (16GB)

Advantage in Option 2 is max ram allowed is 32GB which will allow some more
RAM in future...But AMD max memory is 16GB (i',m not sure if this is enough for running 5 or more VM's with good memory allocated to each VM).
Confusion in Option 2 is whether DH67VR allows 8GB single RAM to be installed in a single slot...Documentation is not very clear, Although they say they support max 32 gb ram with 4 slots which makes me belive that 8GB ram can be installed.....Also I don't see many 8GB ram's available in market currently...So I might have to install 4 GB ram's today and later upgrade...

Can anybody help me with this configuration (Validate if this is OK)....Also
if anybody has done some similar work can you suggest any problems with these options (which one would be better 6 core AMD vs 4 Core intel)...Also throw in any other options which might be helpfull......Thx